As the foreclosure crisis lingers on, it becomes more important than ever for struggling homeowners to seek assistance from experienced, U.S. Department of Housing and Urban Development (HUD)-approved housing counseling agencies, such as Clearpoint Credit Counseling Solutions.
HUD sponsors housing counseling agencies throughout the country which provide advice on buying a home, foreclosure avoidance, renting, defaults, reverse mortgages, and credit issues.
Counselors working for HUD-approved housing counseling agencies speak with hundreds of homeowners a year. Such consistency allows them to learn how to best work with various mortgage lenders, each of which has its own preferences and procedures. Knowing what strategies have worked for others helps counselors know how to best advise new clients on all of their viable options—whether it be seeking a short sale, modification, repayment plan, deed-in-lieu of foreclosure, forbearance, letting the home go, bankruptcy, etc.
Housing counselors with HUD-approved agencies keep up on the latest state and local governmental foreclosure assistance programs, and can let you know for which you may be eligible.
HUD funding also allows clients to see counselors at HUD-approved housing counseling agencies for free or at a greatly reduced cost. Clearpoint, for instance, offers pre-purchase, foreclosure prevention, and credit counseling at no cost. There is a small charge for only the reverse mortgage counseling. At a time when homeowners have little money to spare, not having to come up with the fee can mean the difference between trying to make it on their own or seeking help from professionals.
HUD conducts audits of its counseling agencies which ensures agencies meet the highest industry standards and federal guidelines. Among other things, this endorsement minimizes the chance you’ll become a victim of foreclosure scams. All housing counselors must be certified by the National Foundation for Credit Counseling (NFCC) and employed by a non-profit organization.
Free appointments for mortgage default/foreclosure prevention counseling may be made by calling 1.877.412.2227 (CCCS).